A preview of the merchandise trade balance data due from NZ at 2245GMT on Tuesday 24 July 2018 at 2245GMT
- Which, of co8rse, is Wednesday local time in NZ
NAB preview the data (this in brief) and point out why the figures are of particular interest this time around:
- figures will be instructive not just for June but for the picture they complete for Q2 as a whole
- Will they infer a big rebound in export volumes in the June quarter, as is our expectation with respect to the GDP accounts? And will the monthly trade figures also point to ongoing robustness on the imports side, in real terms?
- As for June itself, we anticipate the value of goods exports to be 8% higher than a year ago, with imports posting +11% y/y. This would generate a monthly surplus of $129m.
